Business, 12.02.2020 06:03 NycJahlilThegoat

A fully discrete whole life insurance policy paying $50,000 at the end of the year of death is issued to an individual age 36. The net premium reserve at the end of 10 years is $8,000. The net premium for this policy is $900 and the net premium for an identical policy issued to an individual age 46 is P. The effective annual interest rate of interest is 6%. Determine P.

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A fully discrete whole life insurance policy paying $50,000 at the end of the year of death is issue...